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Australian Dollar Trend Little Changed Amid Leadership Uncertainty

THE TAKEAWAY : Australian PM Gillard Calls for Leadership Ballot following Foreign Minister Rudd’s Resignation > Tussle Introduces Risk of Early Election > AUDUSD Reaction Muted Australian Prime Minister Julia Gillard called for a leadership ballot early Thursday morning in order to put to rest concerns that former PM Kevin Rudd would be a better leader of the Labor Party.

Published by on February 22nd, 2012 at 09:02 pm
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Markets Lack Conviction- Franc Bid Higher as Kiwi Slides

Daily Winners and Losers The Swiss franc is the top performer against a stronger dollar in early US trade with the pair virtually unchanged at 11am in New York.

Published by on February 22nd, 2012 at 10:02 am
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AUDUSD and NZDUSD Near Make or Break Pivot Levels

FXCM Expo Videos Innovative Techniques with Traditional Technical Indicators Trading with the Elliott Wave Principle Seeing the Forest from the Trees: An Analysis of Global Markets Afternoon Technicals (all charts) Other TA (crosses, COT, etc.) Morning Notes : EURUSD – “The drop under 13000 probably completed a flat correction from the 1/27 high. The implications are for a sharp rally through the balance of February towards the mid 13000s.” Look for support near 13170/80 in order to get long for the next bull move.

Published by on February 22nd, 2012 at 07:02 am
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GBP/JPY Classical Technical Report 02.22

GBP/JPY: The cross continues to show evidence of the formation of a meaningful base, with the recent break back above 122.05 confirming a higher low by 119.60 and opening a fresh upside extension. Next key resistance comes in by the October highs at 127.35 and we expect a test of this level over the coming sessions. However, daily studies are highly overbought so we would not rule out the potential for a short-term corrective pullback once 127.35 is tested

Published by on February 22nd, 2012 at 12:02 am
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USDJPY Analysis 2012.02.22

[Forex-1 | Euro vs US Dollar] The EURUSD bias is neutral. Upper barrier is at (1.32072), break above that area could trigger further short term upside pressure testing (1.32839). On the downside, the important price level at (1.31045) may be tested or broken in the coming sessions, which may pull the pair towards (1.30237 – 1.29746).Look for a close above/below either barrier.

Published by on February 22nd, 2012 at 12:02 am
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